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Cobalt Power Group Closes Canadian Cobalt Project Acquisition

2017-12-04

Cobalt Power Group Inc. (the â€œCompanyâ€) (TSX.V:
CPO, OTC Pink: CBBWF) is pleased to announce that the TSX Venture Exchange has accepted for filing a
share purchase agreement dated Oct. 23, 2017, between Cobalt Power Group Inc., Canadian Cobalt
Projects Inc. (the vendor) and all of the shareholders of Canadian Cobalt. Cobalt Power has agreed to
purchase all of the issued and outstanding common shares in the capital of Canadian Cobalt, which is the
registered holder of 33 mineral claims located in the South Lorrain Township, Ontario. Consideration is
29.95 million common shares of the company. Under the agreement, a 1.5-per-cent net smelter royalty will
be granted, on a pro rata basis, to the shareholders of Canadian Cobalt.